Mortgage Paperwork Checklist

Have the following paperwork organised when you meet with a mortgage broker or lender to arrange your finance:

• Proof of income; must be in the form of two most recent payslips or group certificate which is not more than 15 months old or a letter from the employer outlining length of employment and income details

• Verification of any rental property income (e.g. letter from the managing agent or real estate agent confirming expected rental or a copy of the lease agreement or proof of rental receipts from bank records)

• Statements for any loans (e.g. home loan, personal loan) and credit cards

• Statements for any bank accounts (e.g. savings account) to prove savings history and confirmation of funds

• Proof of assets (e.g. if you own other property provide copies of the water and council rates)

• Personal identification (e.g. drivers license, passport or birth certificate)

If self-employed you will need:

• Profit and loss statements certified by a registered accountant

• Last two years income tax returns

If a person is providing you with a monetary gift to assist you in purchasing the property, you must provide a letter stating that the funds are an unconditional gift. If the money is a loan then the details of the loan and the repayment terms must be provided.

If paying out an existing mortgage and starting a new home loan, a letter from the present lender stating amount owing and proof of past repayments is also required.